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X1, the challenger credit card for digital natives founded by former Twitter executives, is rolling out of private beta to a waitlist of 350,000 people.
The startup’s proprietary technology also lets cardholders cancel subscription payments in one click, end free trials automatically with auto-expiring virtual credit cards, get instant notifications on refunds, attach receipts to purchases, and create virtual cards for one-time use.
The company has attracted investment from some big Silicon Valley hitters, including Box CEO Aaron Levie, Affirm CEO and PayPal co-founder Max Levchin, and Yelp CEO Jeremy Stoppelman.
As it rolls out the card to its waitlist, X1 says that a six month private beta saw engagement on par with Robinhood, with users opening the app an average of 10 times a day.
The firm initially promised up to 5 times higher credit limits than average credit cards but says that in the beta, customers’ X1 limits are 7.5 times higher. Within 60 days of having the card, 45% of customers started using X1 for the majority of their spending.
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